MAM
Bajaj Auto becomes world’s most-valued two-wheeler brand
NEW DELHI: Bajaj Auto Ltd has become the first two-wheeler company to cross a market capitalisation of Rs 1 lakh crore, globally. The announcement was made by the company in a BSE listing highlighting that its share price closed at Rs 3,479 per share on NSE on 1 January 2021, making its market capitalisation Rs 100,670.76 crores at this price.
This milestone comes as Bajaj celebrates its 75th year of operations.
The company stated, “This market cap is considerably higher than all other domestic two-wheeler companies. As per analysts, a market capitalisation of over rupees one lakh crores has not been achieved before by any international two-wheeler company anywhere in the world. Thus, Bajaj Auto is not only the most valued company in the two-wheeler segment but also the first-ever two-wheeler company in the world to have reached the milestone of a market cap of over Rs 1 lakh crore.”
The automobile manufacturer has reported an 11 per cent increase in total sales at 3,72,532 units in December 2020. Total motorcycle sales were at 3,38,584 units last month as against 284,802 units in December 2019, up 19 per cent, it added.
Bajaj Auto MD Rajiv Bajaj said, "The company's sharp focus on the motorcycles category and its unwavering commitment to strategies of differentiation as well as the practice of TPM combined with global ambitions have today made Bajaj the most valuable two-wheeler company across the globe. This inspires us, even more, to serve and delight customers all over the world.”
Brands
Oyo parent Prism appoints former Sebi chief Ajay Tyagi to Board
Former market regulator joins Prism to strengthen governance for IPO
NEW DELHI: Prism, the parent entity of Oyo, has appointed former Sebi chairman Ajay Tyagi as an independent director, as the hospitality firm gears up for its planned Rs 6,650 crore initial public offering (IPO).
Tyagi, a 1984-batch IAS officer, served as chairman of the Securities and Exchange Board of India (SEBI) from 2017 to 2022. His appointment is aimed at strengthening the company’s governance framework and providing strategic oversight as it moves closer to a public listing.
He joins a high-profile board that already includes several prominent names from global business and policy circles. These include Troy Matthew Alstead, former CFO and group president of Starbucks; Aditya Ghosh, co-founder of Akasa Air; Deepa Malik, paralympic athlete and Padma Shri awardee; William Steve Albrecht, professor of accountancy at Utah State University; and Bejul Somaia, partner at Lightspeed Venture Partners.
Prism founder Ritesh Agarwal, said Tyagi’s experience in capital markets regulation and public-institution stewardship will be critical as the company scales operations and enhances long-term accountability.
The company recently filed preliminary papers with Sebi to raise Rs 6,650 crore through a confidential route. Market sources estimate its valuation will be in the range of $7 billion to $8 billion.
Over the course of his career, Tyagi has held senior roles in the ministry of finance, where he oversaw investment policy and financial-sector reforms. His induction to the Prism board signals a renewed focus on aligning the company’s internal standards with the stringent requirements of public markets as it advances toward its IPO.
